OpenSats Receives $1,000,000 Donation From The Reynolds Foundation \ stacker news ~bitcoin

OpenSats Receives $1,000,000 Donation From The Reynolds Foundation opensats.org/blog/opensats-receives-one-million-from-reynolds-foundation

4091 sats \ 19 comments \ @1GLENCoop 22 Apr bitcoin

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172 sats \ 4 replies \ @030a29f333 23 Apr

Why is everyone's first reaction skeptical?

87 sats \ 1 reply \ @k00b 23 Apr

I don't get it either. Someone donated money and their website is minimal. All rich people are supposed to be web developers?

120 sats \ 0 replies \ @030a29f333 23 Apr

Thank you!

I mean I get we're generally a skeptical bunch but jeez. It's OK to have good things happen. Opensats is very clear on how they operate, don't take conditional donations. I can't imagine a reason why a lower profile donor would be a problem.

5 sats \ 0 replies \ @Bell_curve 23 Apr

Paranoia and immaturity

0 sats \ 0 replies \ @1GLENCoop OP 24 Apr

Probably because bitcoiners don't trust. We verify.

158 sats \ 0 replies \ @nym 22 Apr

100% of said donation will be used to support open-source projects and contributors working on freedom tech. Our operational budget is funded separately, which allows us to not take any cut from donations going to our open-source funds.

Great work!

21 sats \ 2 replies \ @jshagenow4 22 Apr

Its just weird...clicking the link to this article...then clicking the Reynolds Foundation link in the blog post...then nothing

Googling Reynolds foundation brings up the same page...and nothing-no info-its like they don't exist? its like they are an anonymous foundation donating anonymous money...which is cool and all....just weird...why announce it if you want to remain anonymous in the first place? why even have a web page that was just started?

is it just me? what am i doing wrong?

63 sats \ 0 replies \ @1GLENCoop OP 22 Apr

I noticed something amiss with it after I posted it as well. At first I thought it was somehow Ryan Reynolds. As I went looking into a bit, I saw it was someone named Tim Reynolds. I then found these links; https://projects.propublica.org/nonprofits/organizations/364668111 https://www.forbes.com/sites/jasonborbet/2016/02/24/how-a-former-trader-turns-luxury-villas-into-free-art-education/ https://aniartacademies.org/about-2/

It appears to be legit.

0 sats \ 0 replies \ @nullama 23 Apr

I don't know why it is relevant to know who the Reynolds Foundation is.

Having a look at the project that are being sponsored by OpenSats is enough for me. Also dergigi is involved in the OpenSats organization, which is great.

5 sats \ 0 replies \ @Coinsreporter 23 Apr

No, not true. I can confirm it with my spy skills.

10 sats \ 0 replies \ @Satosora 23 Apr

Have to wait and see. Everyone thought mtgox wasnt a scam for the longest time.

1 sat \ 0 replies \ @nullama 23 Apr

Happy to see GrapheneOS in the list of projects

1 sat \ 0 replies \ @gunson 23 Apr

Tim Reynolds is the founder of Jane Street Capital. He currently runs a set of luxury resorts.

He's a rich guy who likes Bitcoin, and is giving back. Not every rich guy who likes Bitcoin can say the same :)

1 sat \ 0 replies \ @SatsMate 23 Apr

It looks good! I just hope with big money donations like this, there are never strings attached. Sometimes in life if you get a big purse, there is always a catch in some way shape or form down the road.

1 sat \ 0 replies \ @jshagenow4 22 Apr

I hope this is a valid post....the link to the "reynolds foundation" doesn't seem to be anything other than a "holding page" or something...there is no other information on that page that I could find? Maybe I have to dig deeper?

0 sats \ 1 reply \ @Hamstr 23 Apr

...I don't think OPENsats should be the only organization to decide what software should be developed.

I think they should be criticize more. like WTF are the conditions for a developer to develop stuff? they hold all the fucking money. A dev can be like I want to create this, and open sat be like "FU" no funding unless you agree to x,y,z terms. I bet there isn't transparency to the agreement. They just parade themselves as the white knight-- LIKE SAM BANKMAN

1 sat \ 0 replies \ @nullama 23 Apr

No one is stopping anyone from funding open source.

Github has a donation page, there's patreon, etc.

Of course you need to have standards to send money. You are responsible for the donor money, so you need to do due diligence.

0 sats \ 0 replies \ @026180d3a3 22 Apr

I need me one of those kinda grants!

0 sats \ 0 replies \ @BitcoinIsTheFuture 22 Apr

Yup seems fishy